share_log

E&G Advisors LP Sells 520 Shares of Chevron Co. (NYSE:CVX)

Defense World ·  Mar 24, 2023 20:14

E&G Advisors LP decreased its position in Chevron Co. (NYSE:CVX – Get Rating) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,866 shares of the oil and gas company's stock after selling 520 shares during the quarter. E&G Advisors LP's holdings in Chevron were worth $1,232,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVX. Worth Asset Management LLC bought a new position in Chevron in the first quarter worth $36,000. JDM Financial Group LLC bought a new position in shares of Chevron during the fourth quarter valued at $42,000. Hillsdale Investment Management Inc. raised its position in shares of Chevron by 127.3% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company's stock worth $54,000 after purchasing an additional 210 shares during the last quarter. CarsonAllaria Wealth Management Ltd. boosted its stake in Chevron by 65.9% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 423 shares of the oil and gas company's stock worth $61,000 after purchasing an additional 168 shares in the last quarter. Finally, Piershale Financial Group Inc. purchased a new stake in Chevron during the 4th quarter valued at about $72,000. Institutional investors own 69.37% of the company's stock.

Get Chevron alerts:

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVX shares. Barclays upped their target price on shares of Chevron from $196.00 to $212.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 3rd. BNP Paribas lowered shares of Chevron from a "neutral" rating to an "underperform" rating and set a $190.00 price objective for the company. in a report on Wednesday, December 14th. Morgan Stanley decreased their price objective on shares of Chevron from $197.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, January 30th. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, March 16th. They issued a "hold" rating for the company. Finally, HSBC boosted their price objective on shares of Chevron to $187.00 in a report on Friday, December 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $189.50.

Chevron Trading Down 1.0 %

NYSE:CVX opened at $154.52 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $132.54 and a 12 month high of $189.68. The company has a market cap of $294.62 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.76 and a beta of 1.16. The company has a 50 day simple moving average of $167.48 and a two-hundred day simple moving average of $169.32.

Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the previous year, the firm earned $2.56 EPS. The company's revenue was up 17.1% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 14.73 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a dividend of $1.51 per share. This is an increase from Chevron's previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.91%. Chevron's payout ratio is presently 33.04%.

Chevron declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 25th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 21.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, VP Rhonda J. Morris sold 19,666 shares of the business's stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the sale, the vice president now owns 3,967 shares of the company's stock, valued at approximately $674,390. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company's stock.

Chevron Company Profile

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

Read More

  • Get a free copy of the StockNews.com research report on Chevron (CVX)
  • KB Home Strong Results Lift Prices
  • Chewy Stock Is Setting Up For Long-Term Profitable Growth
  • Why Wall Street Loves These 3 Penny Stocks
  • Carvana May Be Able To Reach Profitability This Year
  • Low Volume Bunge Plunge Presents an Opportunity

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Get Rating).

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment